How to Calculate Interest in a Variable Interest Account?

Join the discussion
Registration is free. Ask a follow-up in this thread, or start your own.
1 reply · 1K views
DjDukes
Messages
6
Reaction score
1
Is there a simple formula to find the amount of money in an account given a situation like this...

You deposit x into the account
Each year you get interest
Year one the interest is 1%
Year two the interest is 2%
Year three the interest if 3%
and so on

Is it possible to get a simple general formula for the amount of money in the account at the end of any year n?
 
Physics news on Phys.org
DjDukes said:
Is there a simple formula to find the amount of money in an account given a situation like this...

You deposit x into the account
Each year you get interest
Year one the interest is 1%
Year two the interest is 2%
Year three the interest if 3%
and so on

Is it possible to get a simple general formula for the amount of money in the account at the end of any year n?

Never mind I got it like 5 mins after posting.